Macthorpe writes: "Accompanied by an open letter from the Corporate Vice President of Entertainment and Devices, Microsoft have extended the warranty on all Xbox consoles by 3 years to cover all of the so-called 'red ring' failures that have plagued the console since launch. Peter Moore elaborates:

We don't have 10 million broken Xbox 360s, but we haven't done a good job, in recent months in particular, of taking care of the people that have taken care of us[...] We've made a pretty bold step today — as you said, "ouch" — that has some pretty far reaching consequences financially, but as a company think is the right thing to do, and we're going to take care of you whether you bought one on launch day or yesterday and protect you against those problems that are indicated by the three red rings on the console.